GAMING FIRMS POST QUARTERLY RESULTS

April 25, 2001 8:46 PM
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ANCHOR POSTS 11% INCREASE

Anchor Gaming reported an 11 percent increase in revenues for the first three months of the year to $123 million. Cash flow, reported as earnings before interest, taxes, depreciation, one-time charges and stock-based compensation expense, increased 12 percent to $49 million, compared with the same period in 2000.

Diluted earnings per share before one-time charges increased 30 percent to 87 cents. Including one-time charges of $133 million, the company lost $6.41 per share.

ARGOSY INCREASES PROFITS

Argosy Gaming reported increases in net revenue and net income for the first quarter. Revenue was up $6.4 million to $170.7 million, reflecting increases at all five of the company’s riverboat casinos.

The result was a $1 million increase in profits despite a drop of $1.7 million in income from operations to $40.1 million. Net income per diluted share was up 4 cents to 50 cents.

HORSESHOE POSTS SOLID GAINS

Horseshoe Gaming Holding Corp. reported increases in revenues and net income of $13 million and $5 million, respectively, for the first quarter, compared with the first three months of 2000. Revenues were $259 million, and net income reached $25.3 million.

AUTOTOTE PROFITS SLIP 6 CENTS/SHARE

Autotote, now known as Scientific Games Corp., announced a net loss of $2.4 million or six cents per share for the first quarter as a result of additional expenses totaling $13 million.

The company’s revenues were up significantly, however, as a result of its acquisition of Scientific Games. Revenues for the first quarter were $112.1 million, compared with $45.6 million last year. EBITDA nearly doubled, from $10.5 million to $24.7 million.

RIVIERA POSTS NET LOSS

Riviera Holdings reported a net loss of $658,000, or 18 cents per share, for the first three months of 2001, despite a 6 percent increase in net revenues over the same period last year. Cash flow also was down 11 percent. The company blamed rising energy costs for the declines.